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**ePayment Rebates are Rebates derived from Online/Electronic Bill Payments.
Some helpful & insightful Q&A Tips
PersonalBanker ePayment Rebates.
Banks generate income by lending the money you give them. As you pay your bills and expenses online/electronically, the ePayment Rebate program delivers a portion of what your bank makes back to you.
To benefit from this service, you need 3 additional accounts to get started. Here’s why.
As your income is deposited to your main chequing account, you will distribute just enough money to each of these 3 new chequing accounts to cover your bill(s) as they become due. An ePayment Rebate will be triggered via our patented Split-Dollar Deposit system as you pay your bills.
3 accounts are needed to help better categorize your expenses and not confuse their payment due dates. The accounts will be used for:
- debt payments,
- utility payments
- discretionary spending/expenses.
There is a one time set up fee of $300 Cdn. We do not want you to be out of pocket so this fee will be deducted from your initial ePayment Rebates. Every month thereafter; there will be a $50 maintenance charge plus a 10% service fee charged from your monthly rebate.
As stated before, every time you pay your bills online, your bank makes money. All that we do is channel some of that income to you. After all, shouldn’t you share in the profits derived from your money? We think so!
The whole process shouldn’t take more than 20 mins.
In short, yes! Regardless of where you do your banking, all banks and Credit Unions in Canada are eligible.
Yes. In order to maximize your rebate, shorten transaction time and keep things simple, it is recommended that you use the same banking institution that receives your direct deposits.
No. Since YOU will receive setup instructions and be guided through the ePayment Rebates process, to set up the chequing accounts and submit your EFT directly with your banking institution, we will not have any unauthorized access to your bank account.
Your ePayment Rebates will start approximately 30-45 days after enrolling and the necessary setup steps have been completed. Your rebate will be transferred to your online e-account and you may direct it to any account of your choosing.
- Eliminate Debts
- Effectively Use Debt for creating Cashflow
For example, through our SWIFT Program (Save With Intuitive Financial Transactions) we can work with you to have debts eliminated in a much shorter period or help you pay off your mortgage in as little as half the time or less.